Volumes ease in December after stonking year
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Foreign Exchange

Volumes ease in December after stonking year

After another bumper year in FX, volumes inevitably came off in December. Average daily spot volumes on Icap’s EBS platform fell 16%, compared with December 2007, to $126.2 billion. However, over the course of the year, average daily volumes rose 18% to $214.5 billion. Meanwhile, The CME has reported that an average of 624,000 FX contracts changed hands each day, up 10% on 2007. In notional terms, this equated to $85 billion.

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